Basic Terms of Accounting

1. reduction in price for increasing sale
4. ________ Asset is which you can feel, touch, see.
7. responsibilities arises on happening of an uncertain event.
8. Responsibilities of the business
10. credit suppliers
12. goods lying in godown for resale purpose
14. transactions are being measured in terms of______
16. Money which is being lost due to insolvency or other reason of the customer.

2. Activities done by the person for his/her own satisfaction.
3. Properties of the business
5. Process of Identifying, Measuring, Recording, Classifying, Summarising, Interpreting and Communicating.
6. Invoices against which money is going to be received by the businessman.
9. person not able to make the payment of its dues
11. selling on credit
13. The reputation of the business.
15. Products of business